FinTech’s Next Frontier: SoFi Bridges Fiat and Crypto Banking
Hey Digital Banking Fanatic!
SoFi Technologies just took a major step toward blending traditional and digital finance with the launch of SoFi Big Business Banking, a first-of-its-kind platform that lets enterprises manage fiat and crypto within a single, federally regulated bank.
Some of SoFi Big Business Banking's key capabilities will include: Regulated business deposit accounts, real-time and API-Driven payments, digital asset enablement, and unified financial operations.
As you might remember, SoFi made some moves in blockchain with the launch of SoFiUSD, and this new service gives businesses unified access to deposits, 24/7 real-time payments, and digital asset management directly within SoFi’s national charter.
“To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, 7 days a week, while legacy banks typically still operate 9 to 5, Monday to Friday,” said Anthony Noto, CEO of SoFi.
With partners like Mastercard, Fireblocks, and Galaxy already on board, SoFi is positioning itself as the go-to infrastructure for companies operating across both fiat and on-chain worlds.
More from the world of digital banking below. 👇 See you on Monday.
Cheers,
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NEWS
🇺🇸 SoFi launches Big Business Banking to power fiat and crypto banking on a single regulated platform. The new offering allows enterprise clients to manage both fiat and crypto operations within a single regulated platform. The move strengthens SoFi’s strategy to integrate traditional banking with blockchain-based financial services.
🇿🇦 Revolut is hiring in South Africa ahead of launch locally, following its banking licence application. The recruitment push spans risk, compliance, finance, and tech roles, signaling the company’s first major expansion into the African market. Read more
🇮🇹 Italy Regulator fines Revolut $13 million for alleged unfair commercial practices. The watchdog said that it imposed a fine on Revolut Securities Europe UAB and Revolut Group Holdings Ltd for breaching consumer protection rules by failing to give its customers clear and comprehensive information on additional costs and limitations on commission-free investments.
🇳🇬 Flutterwave secures Nigerian banking license to accelerate payment efficiency. This license enables the company to hold funds and deposits directly, strengthening its financial infrastructure across its largest market and enabling more efficient financial services and settlement flows for consumers, businesses, and enterprises.
🇺🇸 Chime has launched Chime Prime, a new rewards program offering up to 5% cash back in select spending categories for customers who meet direct deposit thresholds. The move reflects a shift toward more traditional banking incentives as Chime competes with established players in the rewards space.
🇰🇪 Safaricom unveils AI-powered My OneApp, merging M-PESA and MySafaricom under one roof. Using AI-driven personalisation, the platform adapts based on transaction frequency, preferred contacts, recurring payments, and commonly used services.
🇬🇧 Doug King confirms Coventry City to continue 'good fit' relationship with Monzo. The relationship suggests that Coventry City could see a major revenue boost if promoted to the Premier League. Continue reading
🇺🇸 Birchtree Investments announces the execution of the definitive agreement to acquire Digital Motion Corporation. The deal supports Birchtree’s strategy to bridge traditional finance with decentralized markets and expand access to digital financial opportunities.
🇺🇸 Franklin Templeton acquires digital assets investment firm 250 Digital in active crypto management push. By bringing 250 in-house, Franklin Templeton hopes to be able to increase its actively managed crypto investment offerings for its institutional clients beyond basic exposure through products like its bitcoin ETFs.
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